Government contractors have a demanding set of accounting methodologies. They must be ready for audits and have a robust accounting system that meets the demands of DCAA (Defense Contract Audit Agency).
The DCAA Manual and relevant regulations provide a general framework for your accounting system. We can help you choose compliant software and/or establish processes that will be DCAA compliant, or in many cases, we take over complete responsibility for all these services.
Our outsourced accounting services take the stress out of these challenges by maintaining an acceptable contract cost accounting system that includes:
- Developing the proper chart of accounts
- Identifying direct costs, pooling and allocating indirect costs (G & A, Overhead, Fringes)
- Capturing unallowable costs
- Proper allocation of labor thru timekeeping system
- GAAP compliant financial statements
Emerald Financial Partners understands that government contractors often need scalable accounting services to meet ever-changing needs. So, whether you need a bookkeeper, a full-service accounting firm, or an Outsourced Remote CFO, we have the scalable solution to meet your needs!